Fraud Defendant Has Bail Lowered in Riverside County

A man accused of being the mastermind behind a $144 million securities
and mortgage fraud scheme had his bail lowered from $144 million to $5
million. After a bail reduction hearing, Richard Fields, a Riverside Superior
Court judge reduced James Duncan’s bail however, he did say he wants
a hearing if Duncan can post the bail and where the money came from.

Duncan and several other co-defendants are accused of bilking hundreds
of investors out of $17 million and causing over 200 homes to go into
foreclosure. Investors are from Arizona and California.

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